Why am I getting an error stating 'Stop loss should be less than limit price'?
The error 'Stop loss should be less than limit price' is a protective measure ensuring your trades are logically consistent. When placing a Buy order:
- Limit Price: Represents the maximum price you're willing to pay for a stock.
- Stop-Loss: Acts as a safeguard, setting a price to sell the stock if it starts moving against your expectations.
Given this, it's important that the stop-loss (selling price) be set lower than the limit price (buying price). For instance, if purchasing 100 shares of SBIN Ltd. at a limit price of ₹500, setting a stop-loss at ₹480 ensures you'll automatically sell if the market price dips below ₹480, protecting against potential larger losses.
Related Articles
Why am I getting an error stating "Limit price should be in multiples of 0.05"?
When placing an order in Equity and Equity Derivatives, it's essential to ensure the limit price aligns with specific increments to maintain market stability and orderliness. As such, on FYERS, the limit price must be set in multiples of 0.05. If ...How to Place a Trigger Order/Stop-Loss Market Order in Fyers App
A trigger order, commonly known as a stop order or stop-loss market order, allows you to set a specific price for buying or selling. Specifically, buy trigger orders should be placed above the current market price, and sell trigger orders should be ...What are the various error messages displayed in the New Order Window?
In order to simplify the order placement, we've given a tool kit for all the error messages. The messages in the quotes below are displayed on our new order window whereas the bold ones are descriptions: "Disclosed quantity should be less than or ...How to place Stop-Limit/Trigger-Limit order on Fyers Web?
A Trigger-Limit/Stop-Limit Order, formerly known as a Stop-limit order, allows traders to specify an entry or exit point in the market at a defined price level, with a range. It combines the features of a limit order and a stop order. When you place ...How to place a limit order in Fyers Web?
A limit order is an order placed at a particular price. Buy Limit orders are to be placed below the current market price & Sell Limit orders are to be placed above the current market price. Go to the scrip you wish to place an order in and click on ...